Greenwing Raises $1.5M Through SPP Shortfall and Additional Placement
Greenwing Resources has successfully completed its equity raising program, placing the shortfall from its Share Purchase Plan and an additional placement due to strong investor demand. This capital boost strengthens the company’s position as it advances its lithium and graphite projects.
- Placement of $0.9 million SPP shortfall shares at $0.03 each
- Additional $0.6 million placement due to strong demand
- Capital raising program now formally completed
- Funds bolster balance sheet ahead of project developments
- Sale of surplus equipment from Graphmada graphite mine ongoing
Equity Raising Completion
Greenwing Resources Ltd (ASX, GW1) has announced the successful completion of its equity raising program initially launched in April 2025. The company placed the remaining shortfall shares from its Share Purchase Plan (SPP), raising $0.9 million at an issue price of $0.03 per share. Notably, strong investor interest prompted an additional placement of $0.6 million on the same terms, bringing the total capital raised to $1.5 million.
Responding to Market Demand
The additional placement, which accounts for approximately 20 million new shares, was conducted within Greenwing’s existing capacity under ASX Listing Rules. This move reflects growing market confidence in Greenwing’s portfolio, particularly in lithium and graphite sectors, which are critical to the evolving clean energy landscape. CEO Peter Wright highlighted the encouraging investor sentiment and confirmed that the capital raising program is now formally concluded.
Strengthening Financial Position
With the fresh capital injection, Greenwing is reinforcing its balance sheet to support ongoing development across its key assets. These include the San Jorge Lithium project in Argentina, the Graphmada Graphite mine in Madagascar, and the Que River Polymetallic Mine in Tasmania. The company is also actively monetising non-core assets by selling surplus equipment and non-critical spares from Graphmada, further enhancing liquidity.
Looking Ahead
Greenwing’s management anticipates settling the balance of its Tranche 2 Placement shortly, which will add approximately $0.66 million in further capital. The company plans to update the market on operational progress soon, signaling a focus on advancing its critical minerals projects that are well positioned to benefit from the global shift towards electrification and sustainable technologies.
Bottom Line?
Greenwing’s completed equity raise sets the stage for accelerated development, but investors will watch closely for operational milestones and capital deployment.
Questions in the middle?
- How will Greenwing allocate the new capital across its lithium and graphite projects?
- What timeline can investors expect for production or resource updates from key assets?
- How might ongoing equipment sales impact operational efficiency and cash flow?
